The founder and CEO of the Telegram messenger Pavel Durov met with the Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, reports zakon.kz.

According to thebell.io, citing the Dubai government, the purpose of the meeting and the content of their conversation were not disclosed. It is only known that it took place in the city.

Durov thanked the prince for developing the tech community and stimulating innovation and entrepreneurship in the tech sector outside of Dubai, while the prince said the local ecosystem is open to tech startups and provides everything they need to grow.

Later, the prince wrote on his Twitter page that he met Durov at the meeting and learned “the details of an inspiring success story born in the UAE and domestically.”

At the end of 2017, it became known that Durov had decided to settle in Dubai. Then in an interview with Bloomberg, Durov himself said: “I like it here.” His new office is located on the 23rd floor of one of the skyscrapers of the Dubai Media City (DMC) free economic zone in the capital of the emirate, the agency wrote.

Durov has citizenship of the Federation of Saint Kitts and Nevis, and he explained his choice of residence by the absence of taxes in the DMC. “This is a matter of principle. Many in the West do not understand how severe the restrictions are imposed on them. It can take up to half of your income to pay them, which essentially means that for 180 days a year you work for the government. I believe I can find the best use for their money for the benefit of society, “Durov told the agency.

In mid-January, The Information reported that Telegram was going to raise a large loan – about $ 1 billion. Then this debt could be converted into shares in the event of an IPO, which the publication called “inevitable.” The convertible debt will support the expansion of Telegram, and Durov will finance the company before it goes public, according to The Information.

After the release of The Information, Pavel Durov said that he himself had not met with any “banks and investors”, but his team did receive various proposals. According to two interlocutors of The Bell, a pool of Western investors offered Durov to buy out 5-10% of Telegram shares, based on the messenger’s estimate of $ 30 billion, but he rejected the offer.